EURUSD | Page 48887 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #977,721
  • Apr 6, 2015 12:24am Apr 6, 2015 12:24am
Quoting Chicky
{quote} How can you blow an account if this happens? It happens with me all the time and this is how I make money. Don't expect that it will go in your direction soon after you have taken a trade. The logical way is to check the bigger timeframe/fundamentals and enter gradually on shorter timeframes. If it goes against you in shorter timeframes, add to you position but if it goes against you in bigger timeframe, get out.
An example on GBPCHF. First trade showed loss in shorter term but well within sl on Weekly. When weekly showed direction is right (at least for now) more trades. Each trade is very very small but several such trades on many pairs at many different times.

All positions together will show significant loss only if several things go wrong at the same time but not before that. Trades will keep on hitting sls and tps, some tps are much wider than their respective sls and others are narrower. SLs and TPs are not based on good RR but likelihood of their being get hit/not get hit. When trading longer term, you may or may not get a good rr on every trade, however, good confirmation.
Attached Image
The Thief of Wall Street
  • #977,722
  • Apr 6, 2015 12:33am Apr 6, 2015 12:33am
Quoting Chicky
{quote} An example on GBPCHF. First trade showed loss in shorter term but well within sl on Weekly. When weekly showed direction is right (at least for now) more trades. Each trade is very very small but several such trades on many pairs at many different times. All positions together will show significant loss only if several things go wrong at the same time but not before that. Trades will keep on hitting sls and tps, some tps are much wider than their respective sls and others are narrower. SLs and TPs are not based on good RR but likelihood...
Another example on eurusd. This position may hit sl the way things are going, but I will be taking one or two more shorts as it nears sl. You never know when fundamentals start changing again and things come back where they were when you took the first trade........ one advantage of longer term trading, smaller positions and wider sls.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled1.jpg Size: 124 KB
The Thief of Wall Street
  • #977,723
  • Apr 6, 2015 12:44am Apr 6, 2015 12:44am
Quoting navk
{quote} I like your comment. My trades always go opposite but I consistently make money. A good trader should be able to "manage" trades.
Not consistently. A thief has no consistent income.
I lose a lot of money, sometimes for much lesser profit targets.
The greatest advantage of forex (if one takes it as a gamble as I do) over all other types of actual event based varying rate gambles (e.g sports betting) is that not only factors influencing the outcome in this market can be analyzed like any other similar gambles but also this market is continuous. There is no finish line or end of the game time. If one wisely uses this unique feature of this market, can have an edge.

Most highly leveraged traders themselves put a finish line to a game that otherwise offers a lot of opportunity.
The Thief of Wall Street
  • #977,724
  • Apr 6, 2015 12:55am Apr 6, 2015 12:55am
Quoting Chicky
{quote}Most highly leveraged traders themselves put a finish line to a game that otherwise offers a lot of opportunity.
I blew several accounts due to over leveraging. Its not only the pain of losing the cash, it actually takes time to recover mentally after each blow up.
  • #977,725
  • Apr 6, 2015 12:56am Apr 6, 2015 12:56am
Cyprus according to the president gives no support to an Greekexit. If Greek leaves the eurosone they will be completly isolated so ut will never happen.
  • #977,726
  • Apr 6, 2015 1:06am Apr 6, 2015 1:06am
Quoting 10cents
{quote} I blew several accounts due to over leveraging. Its not only the pain of losing the cash, it actually takes time to recover mentally after each blow up.
I know exactly what you are talking about. We lose Mental Capital on blowing up an account, which is much more important than financial capital.

Strangely, you do not lose this capital on hitting several losing trades, but only when your account is almost blown.

Some people discard a good system after few consecutive loses only because these loses blow up their accounts. The problem may not be with the system but the position size/leverage. Once it happens, they lose faith in their method.

I believe one knows if the system is good or not even before taking the first trade. However, many try to fool themselves and take chances. Your mental capital is preserved and there is no fear if you know your system is logical and you keep your positions very very small. For those, the only advice could be to keep on working until you find a logical method, there are many.
The Thief of Wall Street
  • #977,727
  • Apr 6, 2015 1:14am Apr 6, 2015 1:14am
Which one comes first? Twist the coin - 1057 or 0955
  • #977,728
  • Apr 6, 2015 1:42am Apr 6, 2015 1:42am
Quoting Magicmen
Which one comes first? Twist the coin - 1057 or 0955
For me no need to guess!!!!

I buy when price reaches 0955 and will sell when it reaches 1055, with tight sl around 10 pips. If things go against my range theory and price break these levels, I will follow the price.
  • #977,729
  • Edited 2:03am Apr 6, 2015 1:53am | Edited 2:03am
I see the PA is still respecting the descending wedge to the pip

L.E. -scratch that
Why sell the bottoms when you can buy the tops...
  • #977,730
  • Apr 6, 2015 1:59am Apr 6, 2015 1:59am
Quoting TataFara
{quote} For me no need to guess!!!! I buy when price reaches 0955 and will sell when it reaches 1055, with tight sl around 10 pips. If things go against my range theory and price break these levels, I will follow the price.
how do u know 0955 will hold to buy from it
  • #977,731
  • Apr 6, 2015 2:10am Apr 6, 2015 2:10am
big positive decline in the unemployment in Spain. Europe is improving Us is worsening due to the low euro and high USD
  • #977,732
  • Apr 6, 2015 2:10am Apr 6, 2015 2:10am
Quoting egkid
{quote} how do u know 0955 will hold to buy from it
Frankly I don't know, and no one does. It is only probability. Which is only valid today, not on Tuesday, where fireworks expected. I will buy or sell only today and only after all news are released, using tight stop loss it is not much risk.
  • #977,733
  • Apr 6, 2015 2:16am Apr 6, 2015 2:16am
Quoting TataFara
{quote} Frankly I don't know, and no one does. It is only probability. Which is only valid today, not on Tuesday, where fireworks expected. I will buy or sell only today and only after all news are released, using tight stop loss it is not much risk.
ok
because i c 0964 more important
so far i have no position
  • #977,734
  • Apr 6, 2015 2:31am Apr 6, 2015 2:31am
Attached Image (click to enlarge)
Click to Enlarge Name: close06.png Size: 154 KB
  • #977,735
  • Apr 6, 2015 2:37am Apr 6, 2015 2:37am
Wait for retracements and go L if you have itchy fingers. If not you should have been long since last week.
I'm not adding any positions until tomorrow.

Those who said it didn't break 1.1 on Friday... What did you expect when everything was closed, reaction was decent tho.
1.1 will be broken, just be patient.
  • #977,736
  • Apr 6, 2015 2:47am Apr 6, 2015 2:47am
Quoting KzX
Wait for retracements and go L if you have itchy fingers. If not you should have been long since last week. I'm not adding any positions until tomorrow. Those who said it didn't break 1.1 on Friday... What did you expect when everything was closed, reaction was decent tho. 1.1 will be broken, just be patient.
it may be,but its gonna be tough one for euro,price reaching 50 sma on daily,mostly when its a heavy trend (like this one),it may be turned down again from there,IMO
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 58 KB
Sometimes it's better to be wrong,to learn..
  • #977,737
  • Apr 6, 2015 2:48am Apr 6, 2015 2:48am
Nicely positioned long on this euro today for the week.
rat
  • #977,738
  • Apr 6, 2015 2:49am Apr 6, 2015 2:49am
Quoting KzX
Wait for retracements and go L if you have itchy fingers. If not you should have been long since last week. I'm not adding any positions until tomorrow. Those who said it didn't break 1.1 on Friday... What did you expect when everything was closed, reaction was decent tho. 1.1 will be broken, just be patient.
I'm still in short does not matter if it breaks 1.1 or not , when the FED rate hike still on the card i will load shorts , I will wait for going long after the FED rate hike happen then we will see if it breaks up somewhere and the load longs !
  • #977,739
  • Apr 6, 2015 2:54am Apr 6, 2015 2:54am
Quoting rattyo
Nicely positioned long on this euro today for the week.



  • #977,740
  • Apr 6, 2015 3:01am Apr 6, 2015 3:01am
Attached Image (click to enlarge)
Click to Enlarge Name: sellc06.png Size: 150 KB
3,166 traders viewing now